diff --git a/Changes b/Changes
index be7aed4d20..7287706651 100644
--- a/Changes
+++ b/Changes
@@ -1,7 +1,13 @@
-10.7.x.x (relative to 10.7.1.0)
+10.7.x.x (relative to 10.7.1.1)
 ========
 
+10.7.1.1 (relative to 10.7.1.0)
+========
+
+Fixes
+-----
 
+- ImageReader, TextureLoader : Removed special case for colorspaces when opening pngs.
 
 10.7.1.0 (relative to 10.7.0.0)
 ========
diff --git a/SConstruct b/SConstruct
index 6f4bd33a79..3c87d37c69 100644
--- a/SConstruct
+++ b/SConstruct
@@ -54,7 +54,7 @@ SConsignFile()
 ieCoreMilestoneVersion = 10 # for announcing major milestones - may contain all of the below
 ieCoreMajorVersion = 7 # backwards-incompatible changes
 ieCoreMinorVersion = 1 # new backwards-compatible features
-ieCorePatchVersion = 0 # bug fixes
+ieCorePatchVersion = 1 # bug fixes
 ieCoreVersionSuffix = "" # used for alpha/beta releases. Example: "a1", "b2", etc.
 
 ###########################################################################################
diff --git a/src/IECoreGL/TextureLoader.cpp b/src/IECoreGL/TextureLoader.cpp
index df719176b9..aeeb4d5059 100644
--- a/src/IECoreGL/TextureLoader.cpp
+++ b/src/IECoreGL/TextureLoader.cpp
@@ -145,30 +145,14 @@ TexturePtr TextureLoader::load( const std::string &name, int maximumResolution )
 	}
 
 	// This logic feels pretty broken - why do we ask the current color config's
-	// display transform to decide what colorspace a file is stored in?  Why special
-	// case just png.  But I've currently copied this logic from ImageReader in the
+	// display transform to decide what colorspace a file is stored in?
+	// But I've currently copied this logic from ImageReader in the
 	// name of backwards compatibility
 	std::string linearColorSpace;
 	std::string currentColorSpace;
 	OIIO::string_view fileFormat = imageBuf.file_format_name();
-	if( fileFormat == "png" )
-	{
-		// The most common use for loading PNGs via Cortex is for icons in Gaffer.
-		// If we were to use the OCIO config to guess the colorspaces as below, we
-		// would get it spectacularly wrong. For instance, with an ACES config the
-		// resulting icons are so washed out as to be illegible. Instead, we hardcode
-		// the rudimentary colour spaces much more likely to be associated with a PNG.
-		// These are supported by OIIO regardless of what OCIO config is in use.
-		/// \todo Should this apply to other formats too? Can we somehow fix
-		/// `OpenImageIOAlgo::colorSpace` instead?
-		linearColorSpace = "linear";
-		currentColorSpace = "sRGB";
-	}
-	else
-	{
-		linearColorSpace = IECoreImage::OpenImageIOAlgo::colorSpace( "", imageBuf.spec() );
-		currentColorSpace = IECoreImage::OpenImageIOAlgo::colorSpace( fileFormat, imageBuf.spec() );
-	}
+	linearColorSpace = IECoreImage::OpenImageIOAlgo::colorSpace( "", imageBuf.spec() );
+	currentColorSpace = IECoreImage::OpenImageIOAlgo::colorSpace( fileFormat, imageBuf.spec() );
 
 	if( !OIIO::ImageBufAlgo::colorconvert( imageBuf, imageBuf, currentColorSpace, linearColorSpace ) )
 	{
diff --git a/src/IECoreImage/ImageReader.cpp b/src/IECoreImage/ImageReader.cpp
index 49dad2f9f3..0fd51dbb51 100644
--- a/src/IECoreImage/ImageReader.cpp
+++ b/src/IECoreImage/ImageReader.cpp
@@ -479,24 +479,8 @@ class ImageReader::Implementation
 					OIIO::TypeString, &fileFormat
 				);
 
-				if( strcmp( fileFormat, "png" ) == 0 )
-				{
-					// The most common use for loading PNGs via Cortex is for icons in Gaffer.
-					// If we were to use the OCIO config to guess the colorspaces as below, we
-					// would get it spectacularly wrong. For instance, with an ACES config the
-					// resulting icons are so washed out as to be illegible. Instead, we hardcode
-					// the rudimentary colour spaces much more likely to be associated with a PNG.
-					// These are supported by OIIO regardless of what OCIO config is in use.
-					/// \todo Should this apply to other formats too? Can we somehow fix
-					/// `OpenImageIOAlgo::colorSpace` instead?
-					m_linearColorSpace = "linear";
-					m_currentColorSpace = "sRGB";
-				}
-				else
-				{
-					m_linearColorSpace = OpenImageIOAlgo::colorSpace( "", *spec );
-					m_currentColorSpace = OpenImageIOAlgo::colorSpace( fileFormat, *spec );
-				}
+				m_linearColorSpace = OpenImageIOAlgo::colorSpace( "", *spec );
+				m_currentColorSpace = OpenImageIOAlgo::colorSpace( fileFormat, *spec );
 
 				return true;
 			}